Friday Fact – GE gained $700 million by deploying Six Sigma

November 16, 2018by Faber Infinite0

Did you know: GE gained $700 million by deploying Six Sigma?

General Electric (GE) one of the most recognizable brands started focusing solely on quality control. CEO Jack Welch made a goal for GE in 1995, to become a Six Sigma company within the span of five years by adopting and implementing the “Six Sigma Quality” as a part of their company’s culture.

The defect level at GE was as high as 35,000 defects per million opportunities. And according to the statistical formula behind Six Sigma, the process must only have 3.4 “defects” per million opportunities or chances for error. This necessity of GE was accomplished after deploying Six Sigma.

According to research, within just two years after adopting and implementing the Six Sigma strategy, GE gained $700 million in corporate benefits. Six Sigma was rolled out in 4 key steps that translated to a formula for success: Training, Mentoring, Leadership and Focused implementation.

GE arranged a 100-hour Six Sigma Training program, following which employees were supposed to complete a project using the methodologies learnt during the training. GE after implementing Six Sigma generated $ 2.5 billion worth benefits. Also, its share value showed an increment. The employee and customer satisfaction and product-quality, all of the three departments experienced good improvement.

As you can see, Six Sigma has been delivering multi million dollar results. Are you practicing Six Sigma for quality improvement?

Image Source : Wikimedia
Written & Compiled By Faber Priyal & Faber Mayuri

by Faber Infinite

Faber Infinite is an International Business Management Consulting Organization offering consulting solutions and services for Increase Profitability in Business.

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